A Swansea-based ladder and scaffolding manufacturer that supplied Sir Edmund Hillary’s Everest expedition has been bought out of administration in a move that has saved almost 200 jobs.

Lyte Industries, which is headquartered at the Swansea Enterprise Park, has been acquired by Breal Capital.

The company had experienced a number of difficulties in 2018 with increasing raw materials prices.

The deal saves 185 jobs.

John Green, managing director, said: “Lyte has experienced a number of recent shareholder changes culminating from several historical events and circumstances. Trading conditions have also been difficult in 2018 and our raw material prices increased substantially. Unfortunately, Lyte was unable to pass these on quickly enough which was added undue pressure on the business.”

Lyte will now trade as Lyte Ladders and Towers Ltd.

Green added: “Breal Capital typically invest in UK-headquartered businesses, in the manufacturing, distribution, wholesale, support services and retail sectors as well as many others.

“They have a wealth of experience as a responsible investment partner, who are committed to supporting the business and providing stability and enhancements to our operational strengths in order to help Lyte reach its growth plans.”

Insider Media